The Long Decline of Bloomberg? April 29, 2009
Posted by James Webster in : finance , trackbackThere seems to be a theme running around the financial/technology blogosphere at the moment, namely that there are a number of trends and startups potentially threatening the hegemony of Bloomberg and its eponymous terminal.
Etrading asks: Wolfram Alpha: another nail in Bloomberg’s coffin? and speculates that with a few key features (most notably availability of financial data) the hotly anticipated ‘analytical search engine’ could be a serious challenger to the charting/analytics tool sets in Bloomberg.
Zerobeta states: Bloomberg Needs to be Less Swiss Army Knife and More Leatherman and makes an argument that Bloomberg should focus on its core competency, financial journalism, embrace an open access approach to its data and allow an ecosystem to evolve around its platform.
Techcrunch reported on the launch of SkyGrid a financial news aggregator. Even their design (white text on black) looks suspiciously like Bloomberg.
Clearly the scope, depth and market penetration of Bloomberg far outreaches any of these potential competitors (plus others such as StockTwits and Chart.ly). Still with Bloomberg charging fees as high as it does (described as absurd by Zerobeta) and the competitive landscape continuously changing underneath it they will have to keep innovating (and to be fair, their iPhone app is great) to keep their dominant position.
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